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IN RE WELLS FARGO SECURITIES LITIGATION

No. 92-15344.

12 F.3d 922 (1993)

In re WELLS FARGO SECURITIES LITIGATION. Howard GREENWALD; Milton Friedman; Sheldon Shore; John Paul Decker; Fairmont Financial Corporation; Arthur-Magna Inc; Harold Bloch; Robert C. Schilling, on behalf of themselves and all others similarly situated, Plaintiffs-Appellants, v. WELLS FARGO & CO., a Delaware Corporation; Carl E. Reichardt; Paul Hazen; Robert L. Joss; Clyde Ostler; David M. Petrone; William F. Zuendt; Stephen A. Enna; Rodney L. Jacobs; Patrick W. Leahy; Guy Rounsaville, Jr., Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided December 29, 1993.

Attorney(s) appearing for the Case

William S. Lerach, Milberg, Weiss, Bershad, Hynes & Lerach, San Diego, CA, and Elizabeth Joan Cabraser, Lieff, Cabraser & Heimann, San Francisco, CA, for plaintiffs-appellants.

Melvin R. Goldman, Morrison & Foerster, San Francisco, CA, for defendants-appellees.

Before: REINHARDT, TROTT, and RYMER, Circuit Judges.

RYMER, Circuit Judge:

Purchasers of Wells Fargo & Co. common stock ("shareholders") appeal from the district court's order dismissing their securities fraud class action with prejudice pursuant to Federal Rule of Civil Procedure 12(b)(6).1 In their Amended Complaint, the shareholders allege that Wells Fargo & Co. and certain of its senior officers and directors (collectively "Wells Fargo") violated § 10(b) of the Securities...

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